Category: Taxes

Congress' procrastination means a delayed 2010 federal tax refund

Taxpayers did not benefit from Congress’s procrastination on deciding whether or not to extend the 2001 Bush tax cuts.  Despite having ten years to make a decision, Congress left it until two weeks before the extension would expire to address the issue.  As a result, the IRS must now reprogram its processing systems for provisions that …

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Permanent link to this article: http://betweenthenumbers.net/2011/01/congress-procrastination-means-a-delayed-2010-federal-tax-refund-2/

Give Large Gifts before 2013

The estate and gift tax is one of the most dramatic aspects of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (HR 4853).  The estate tax provisions went into effect on January 1, 2010, but are only in effect for two years, meaning they will expire in 2013.  Although it is …

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Permanent link to this article: http://betweenthenumbers.net/2011/01/give-large-gifts-before-2013/

Obama’s new whale and the State of the Union

This month, President Obama will need to give a State of the Union address.  The primary of the purpose of the State of the Union Address is to set forth a legislative agenda for the upcoming session.  This year’s legislative session will certainly be more difficult for Mr. Obama because he no longer has a …

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Permanent link to this article: http://betweenthenumbers.net/2011/01/the-tea-party-horse-feathers-and-the-state-of-the-union/

If I Ran the Zoo

          “It’s a pretty good zoo,” said young Gerald McGrew, “And the fellow who runs it seems proud of it, too.” “But if I ran the zoo,” said young Gerald McGrew, “I’d make a few changes, that’s just what I’d do…”           Dr. Seuss, If I Ran the Zoo    A complete overhaul of the …

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Permanent link to this article: http://betweenthenumbers.net/2011/01/if-i-ran-the-zoo/

HR 4853 Summaries

We have two new articles regarding the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (HR 4853).  One article summarizes (i) descriptions that are more detailed than what has been summarized in the headline news regarding what this Act contains, and (ii) the costs of this substantial new law, as determined by …

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Permanent link to this article: http://betweenthenumbers.net/2010/12/hr-4853-summaries/